Vacuum Insulation Panel Market Global Forecast Report by Types (Flat Panel, Special Shape Panel), Raw Materials (Plastics, Metal), Core Materials (Silica, Fiberglass, Others), Application (Construction, Cooling and Freezing Devices, Logistics, Others), Countries and Company Analysis 2024-2032
Buy NowVacuum Insulation Panel Market Size
Global Vacuum Insulation Panel Market size is expected to touch US$8.53 billion by the end of year 2023. It will reach to US$13.10 billion by 2032 and have a CAGR of 4.88% between 2024 and 2032. This positive market outlook is based on the increase in cold storage logistics requirements, adoption of electric cars, awareness of green building, changes in legislation for operating energy efficiency, growth in manufacturing technology, modularity, and the far-reaching improvement in the pharmaceutical sector.
Market Overview
Thermal VIPs are renowned insulating core commodities that feature an encapsulated core surrounded by a vacuum barrier. The core may now be composed of fiberglass or fumed silica and the outer barrier ranging from a multi-layer laminate to contain the vacuum formed and prevent the invasion of air. The void within the panel cancels out the conductive and convective heat transfer that transpires across VIPs, affording them their high thermal energy barrier effectiveness.
The largest application of VIPs is evident in industries that need to have superb insulation. In construction, they give good thermal performance to walls, floors and roofs making it energy efficient. It also improves on the thermal properties of the appliances decreasing energy usage. There are currently applications of VIPs in Cold Chain logistics of products such as medicines and perishable food. Further, they are used in packaging industry and aerospace since they have thin thickness yet they provide high insulation with little space.
| Report Features | Details |
|
Base Year |
2023 |
|
Forecast Years |
2024 - 2032 |
|
Historical Years |
2019 - 2023 |
|
Market Size in 2023 |
US$ 8.53 Billion |
|
Market Forecast in 2032 |
US$ 13.10 Billion |
|
Market Growth Rate (2024-2032) |
4.88% |
Growth Drivers for the Vacuum Insulation Panel Market
Rising Demand for Energy-Efficient Buildings
The need to cut on energy usage is being felt now that more and more people are becoming conscious of the effects of global warming. Many Governments and organizations insist on such efficient supplies, and VIPs are used in the construction business having the best insulating quality. These panels can reduce heating and cooling costs to an unbelievable level, which makes them a favorite of homeowners and commercial builders. This is because, VIPs experience increasing demand from green certification programs and stricter building codes in new constructions and retrofitting projects.
Expansion in Cold Chain Logistics
Cold chain logistics, a necessary process in the transportation of food and pharmaceuticals among other rationed products that require to be accorded certain temperatures during the process of transshipment have shown admirable signs of growth. VIPs offer excellent thermal performance by regulating the internal environment in refrigeration trucks, container and packaging systems. Increase in disposable income, required cold chain distribution for fresh and perishable food products, vaccines and biologics across the world have supported the growth of this sector and vacuum insulation panel market. This is a trend in industries where specialization brings more call for VIPs than before, because industries that handle perishable food products need better insulation than before.
Growing Use in Consumer Appliances
The world refrigerator and freezer market for high- performance appliances associated with VIP technology is growing and VIPs are useful in enhancing energy efficiency. Having access to VIPs enable manufacturers to cut back on energy use in appliances while at the same time retain the slimline shape and cooling capacity. Because energy saving standards for domestic and commercial appliances are being set higher and higher, VIPS are being used by manufacturers to help achieve these standards. It makes the utilization of hi-tech and innovative solutions a dominant trend in the development of the VIP market, particularly in countries where environmental requirements are gradually increasing.
North America Vacuum Insulation Panel Market
North American VIP market still has much potential for development in construction and refrigeration application due to the rising awareness of energy saving. Newer developments particularly in the region emphasize on sustainability and recent elevations of requirements on energy usage has boosted the market for VIPs in buildings and appliances. Secondly, with the growing popularity of cold chain logistics, the enthusiasm for VIPs is even higher, especially in cold chain industries such as food and medicine.
Canada Vacuum Insulation Panel Market
The Canada vacuum insulation panel (VIP) market is expected to show steady growth because of increasing energy conservation needs in the residential and commercial segment. Thanks to measures put in place by governments to encourage construction with features that are environmentally friendly and low carbon emissions, VIPs find application in construction and refrigeration. The automotive industry is also using several VIPs to improve the thermal performance of beam electric vehicles. Besides, increase in the consciousness about energy-saving and the demand for efficient insulating materials also fuel the market. Thus, market participants provide innovation and partnership as the strategies for development in order to satisfy the new tendencies of the Canadian market with preserving the ecological parameters. January 2024, Whirlpool Corporation will introduce SlimTech™ insulation, the first vacuum-insulated structure technology in refrigerator.
Europe Vacuum Insulation Panel Market
Currently, the Europe vacuum insulation panel (VIP) market is rising significantly thanks to the enhancing legal requirements of energy conservation in buildings and appliances. VIP technology has been implemented by the countries in the region to meet ordinances on environmentalism making it applicable in construction, refrigeration and logistics. The increasing need for environmentally-friendly and space efficient insulations, especially in the cities, serves to fuel the sector. Also, increased knowledge in fabrication techniques and materials used in the production of VIPs also improves on performance and costs.
Germany VIP Market
The VIP panel market in Germany is on a continuous rise due to compounding energy efficiency codes and a large emphasis on sustainable structures. VIP technology is gradually being incorporated into construction practice to improve insulation properties in residential and commercial buildings. Furthermore, the increase in demand of efficient refrigeration and logistics solutions has seen a common application of VIPs in cold chain. Therefore, key players fund innovation and broaden their product portfolio to satisfactorily address the market demands.
Asia Pacific Vacuum Insulation Panel Market
The Asia Pacific vacuum insulation panel market is quickly growing because people are using more energy efficient insulation in buildings, increasing urbanization. Environmental consciousness concerning sustainability and the government pushing policy changes encouraging energy efficiency help grow the market even more. The growth of the cold chain logistics market in the region promotes the use of VIP technology to refrigerate and transport products.
India Vacuum Insulation Panel Market
The India vacuum insulation panel (VIP) market is growing at and experiencing growth due to growing energy efficiency norms and growing acceptance of green building products. With construction activity growing rapidly, developers are turning more often to VIP technology to achieve better thermal performance of residential and commercial buildings. Besides, the growth of cold chain logistics market in India is increasing the market size of VIPs in refrigeration and transportation services. They are plans and policies implemented by governments and authorities of many countries aimed at increasing the efficiency of energy consumption and decreasing carbon emissions will also help the market expand. In Jan 2022, va-Q-tec opened a subsidiary in India and thus continues to expand its international capacities.
Vacuum Insulation Panel Company Analysis
The major participants in the Vacuum Insulation Panel market includes Csafe, Avery Dennison Corporation, BASF SE, Etex Building Performance NV (Etex Group), Evonik Industries AG (RAG-Stiftung), Kingspan Group plc., Knauf Insulation, Morgan Advanced Materials, Va-Q-Tec AG.
Vacuum Insulation Panel Company News
In February 2024, The Virginia Innovation Partnership Corporation (VIPC) awarded Virginia Commonwealth University (VCU) a $75,000 grant to support Dr. Massimo Bertino's research. The purpose of the award is to improve the commercial viability of vacuum protection boards, or celebrities, which are renowned for their exceptional protection but high molding costs and difficulty. Together with ThermaGEL Innovations, VCU has developed a licensed Aerogel center for celebrities, which makes them easier to work with and more versatile without the need for hardware. Because of its unique qualities, such as strength, insulation, and heat protection, aerogel is a viable option for a variety of industries, indicating a higher rate of market penetration for this breakthrough.
In January 2024, Combining LuxWall's superior vacuum-protected coating with ClearVue's sun-oriented PV coating, the two companies will work together to build and market the most memorable window in history. LuxWall is a US-based vacuum-insulated coating provider. Combining the cutting-edge developments of the two businesses into a single product is intended to bring window innovation that will support the development region in reaching net zero energy use.
In October 2023, In order to expedite the development of gas arrangements with 0% abnormal weather change potential in the high-voltage power transmission industry, Siemens Energy and Mitsubishi Electric signed a Memorandum of Understanding.
Types- Industry is divided into 2 viewpoints:
- Flat Panel
- Special Shape Panel
Raw Materials- Industry is divided into 2 viewpoints:
- Plastics
- Metal
Core Materials- Industry is divided into 3 viewpoints:
- Silica
- Fiberglass
- Others
Application- Industry is divided into 4 viewpoints:
- Construction
- Cooling and Freezing Devices
- Logistics
- Others
Countries- Industry is divided into 25 viewpoints:
North America
- United States
- Canada
Europe
- France
- Germany
- Italy
- Spain
- United Kingdom
- Belgium
- Netherlands
- Turkey
Asia Pacific
- China
- Japan
- India
- Australia
- South Korea
- Thailand
- Malaysia
- Indonesia
- New Zealand
Latin America
- Brazil
- Mexico
- Argentina
Middle East & Africa
- South Africa
- Saudi Arabia
- United Arab Emirates
All companies have been covered with 5 Viewpoints
- Overviews
- Key Person
- Recent Developments & Strategies
- Product Portfolio & Product Launch in Last 1 Year
- Revenue
Company Analysis
- Csafe
- Avery Dennison Corporation
- BASF SE
- Etex Building Performance NV (Etex Group)
- Evonik Industries AG (RAG-Stiftung)
- Kingspan Group plc.
- Knauf Insulation
- Morgan Advanced Materials
- Va-Q-Tec AG
Report Details:
| Report Features | Details |
| Base Year |
2023 |
| Historical Period |
2019 - 2023 |
| Forecast Period |
2024 - 2032 |
| Market |
US$ Billion |
| Segment Covered | Types, Raw Materials, Core Materials, Application and Countries |
| Countries Covered |
North America
Europe
Asia Pacific
Latin America
Middle East & Africa
|
| Companies Covered |
|
| Customization Scope |
20% Free Customization |
| Post-Sale Analyst Support |
1 Year (52 Weeks) |
| Delivery Format |
PDF and Excel through Email (We can also provide the editable version of the report in PPT/Word format on request) |
Customization Services available
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1. Introduction
2. Research Methodology
3. Executive Summary
4. Market Dynamics
4.1 Growth Drivers
4.2 Challenges
5. Global Vacuum Insulation Panel Market
6. Market Share Analysis
6.1 By Types
6.2 By Raw Materials
6.3 By Core Materials
6.4 By Application
6.5 By Country
7. Types
7.1 Flat Panel
7.2 Special Shape Panel
8. Raw Materials
8.1 Plastics
8.2 Metal
9. Core Materials
9.1 Silica
9.2 Fiberglass
9.3 Others
10. Application
10.1 Construction
10.2 Cooling and Freezing Devices
10.3 Logistics
10.4 Others
11. Countries
11.1 North America
11.1.1 United States
11.1.2 Canada
11.2 Europe
11.2.1 France
11.2.2 Germany
11.2.3 Italy
11.2.4 Spain
11.2.5 United Kingdom
11.2.6 Belgium
11.2.7 Netherlands
11.2.8 Turkey
11.3 Asia Pacific
11.3.1 China
11.3.2 Japan
11.3.3 India
11.3.4 Australia
11.3.5 South Korea
11.3.6 Thailand
11.3.7 Malaysia
11.3.8 Indonesia
11.3.9 New Zealand
11.4 Latin America
11.4.1 Brazil
11.4.2 Mexico
11.4.3 Argentina
11.5 Middle East & Africa
11.5.1 South Africa
11.5.2 Saudi Arabia
11.5.3 United Arab Emirates
12. Porters Five Forces
12.1 Bargaining Power of Buyer
12.2 Bargaining Power of Supplier
12.3 Threat of New Entrants
12.4 Rivalry among Existing Competitors
12.5 Threat of Substitute Products
13. SWOT Analysis
13.1 Strengths
13.2 Weaknesses
13.3 Opportunities
13.4 Threats
14. Key Players Analysis
14.1 Csafe
14.1.1 Overviews
14.1.2 Key Person
14.1.3 Recent Developments & Strategies
14.1.4 Product Portfolio & Product Launch in Last 1 Year
14.1.5 Revenue
14.2 Avery Dennison Corporation
14.2.1 Overviews
14.2.2 Key Person
14.2.3 Recent Developments & Strategies
14.2.4 Product Portfolio & Product Launch in Last 1 Year
14.2.5 Revenue
14.3 BASF SE
14.3.1 Overviews
14.3.2 Key Person
14.3.3 Recent Developments & Strategies
14.3.4 Product Portfolio & Product Launch in Last 1 Year
14.3.5 Revenue
14.4 Etex Building Performance NV (Etex Group)
14.4.1 Overviews
14.4.2 Key Person
14.4.3 Recent Developments & Strategies
14.4.4 Product Portfolio & Product Launch in Last 1 Year
14.4.5 Revenue
14.5 Evonik Industries AG (RAG-Stiftung)
14.5.1 Overviews
14.5.2 Key Person
14.5.3 Recent Developments & Strategies
14.5.4 Product Portfolio & Product Launch in Last 1 Year
14.5.5 Revenue
14.6 Kingspan Group plc.
14.6.1 Overviews
14.6.2 Key Person
14.6.3 Recent Developments & Strategies
14.6.4 Product Portfolio & Product Launch in Last 1 Year
14.6.5 Revenue
14.7 Knauf Insulation
14.7.1 Overviews
14.7.2 Key Person
14.7.3 Recent Developments & Strategies
14.7.4 Product Portfolio & Product Launch in Last 1 Year
14.7.5 Revenue
14.8 Morgan Advanced Materials
14.8.1 Overviews
14.8.2 Key Person
14.8.3 Recent Developments & Strategies
14.8.4 Product Portfolio & Product Launch in Last 1 Year
14.8.5 Revenue
14.9 Va-Q-Tec AG
14.9.1 Overviews
14.9.2 Key Person
14.9.3 Recent Developments & Strategies
14.9.4 Product Portfolio & Product Launch in Last 1 Year
14.9.5 Revenue
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